The Morning Call
5/1/24
The
Market
Technical
Tuesday in the
charts.
Buybacks about to
restart.
Bullish
Sentiment Index Reverses With Buybacks Resuming - RIA
(realinvestmentadvice.com)
Commodity price
rises have just begun.
https://allstarcharts.com/yen-crashing-what-you-need-to-know/
Fundamental
Headlines
The
Economy
US
Weekly mortgage applications
were down 2.4% while purchase applications were down 2.0%.
Month to date retail chain store sales grew
faster than in the prior week.
The February home
price index was up 1.2% versus consensus of +0.1%; the February Case Shiller
home price index was +0.9% versus +0.6%.
The Q1 employment
cost index was up 1.2% versus expectations of +1.0%.
The April Chicago
PMI came in at 37.9 versus estimates of 45.0.
https://www.advisorperspectives.com/dshort/updates/2024/04/30/chicago-pmi-falls-to-17-month-low
The April consumer
confidence index was 97.0 versus predictions of 104.0.
The April ADP
private payroll report showed total jobs increased 192,000 versus forecasts of
175,000.
https://www.zerohedge.com/markets/adp-employment-report-strong-april-tech-sector-lost-jobs
International
The April Japanese manufacturing PMI was 49.6
versus projections of 49.9; the April UK manufacturing PMI was
49.1 versus 48.7.
Other
The
Fed
From the Fed whisperer: Fed likely to keep rates
high for longer.
Trump’s delusional plan to ‘have a say’ in
setting interest rates.
The QE program cost too much.
Fiscal
Policy
Be careful what you wish for.
https://alhambrapartners.com/2024/04/28/weekly-market-pulse-be-careful-what-you-wish-for/?src=news
The end of magical debt thinking.
Inflation
It was the pandemic, stupid.
https://stayathomemacro.substack.com/p/its-the-pandemic-stupid
Recession
Probability of a recession falling again.
https://politicalcalculations.blogspot.com/2024/04/recession-probability-falls-after.html
Geopolitics
What ten years of meddling in Ukraine hath
wrought.
War
in Middle East
Pentagon admits US troops could be drawn into
Gaza war.
Bottom line
The problem with comparing
your performance to an index.
https://klementoninvesting.substack.com/p/dont-tell-me-how-i-am-doing
News on Stocks in Our Portfolios
Mastercard press release (NYSE:MA): Q1 Non-GAAP EPS of
$3.31 beats by $0.07.
Revenue
of $6.3B (+10.5% Y/Y) misses by $40M.
Automatic
Data Processing press release (NASDAQ:ADP): Q3 Non-GAAP EPS of
$2.88 beats by $0.10.
Revenue
of $5.3B (+7% Y/Y) beats by $70M.
What
I am reading today
Wednesday
morning humor.
https://babylonbee.com/news/10-essential-life-skills-your-kid-will-learn-at-an-ivy-league-university
Quote
of the day.
https://cafehayek.com/2024/04/bonus-quotation-of-the-day-1027.html
Visit Investing
for Survival’s website (http://investingforsurvival.com/home)
to learn more about our Investment Strategy, Prices Disciplines and Subscriber
Service.
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